IPOS - Blue Water Vaccines stock hits new 52-week low

Blue Water Vaccines (BWV) stock hit a new 52-week low Monday morning in the wake of last week's sell-off. Shares of the universal flu vaccine developer recently changed hands at $8.67, down 20%, at approximately 10:45 p.m. ET. The stock hit a 52-week low of $8.52 mid-morning after opening at $9.60. Blue Water Vaccines shares plunged last Thursday, tumbling 83% to close at $10.17. The stock had closed at $59 on Wednesday. As of late morning Monday, the stock was down 85% from Wednesday's close. Blue Water held its initial public offering on Feb. 18. The company raised $20M after offering 2.2M shares at $9 per share, with shares soaring 538% to close their debut session at $57.40. The biotech company has been working on a universal flu vaccine along with vaccines for pneumococcus, norovirus, rotavirus and malaria.

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Blue Water Vaccines stock hits new 52-week low